• Since the 2018 Medium Term Budget Policy Statement the contingency reserve has been increased by R6 billion in 2019/20 to respond to requests for fiscal support from smaller stateowned companies. Additional support will be financed by selling non-core assets.

• The consolidated budget deficit is projected to narrow from 4.5 per cent of GDP in 2019/20 to 4 per cent in 2021/22. • Gross debt is expected to stabilise at 60.2 per cent of GDP in 2023/24.

• Real growth in consolidated non-interest expenditure will average 2 per cent over the next three years